jobseekers allowance means test

[lyn123]

I have savings of €25,000 - will I get jobseekers allowance or will i fail the means test I have read the official helpsheet but did not understand the "formula" bit? Some of this money is for upgrading my house and garden and is my only savings - should i take out some before applying?. i have never claimed benefit before so am not up on these things. Please help!!

 

[gipimann]

If you've just finished work, then you may qualify for Jobseeker's Benefit which isn't means-tested so your savings won't be counted.

The savings will be assessed as follows for Jobseeker's Allowance.

First 20 000 is disregarded (ignored).
The balance (5000) is assessed at 1 euro per 1000 per week - so you will be assessed as having €5 means per week.

Assuming you're single and have no other income, your entitlement would be 204.30 (full rate Jobseeker's) minus €5 means.

 

[lyn123]

Thank you very much Gipimann, hurrah for plain english!!! All clear now, you should apply to translate social security "helpsheets".

If you've just finished work, then you may qualify for Jobseeker's Benefit which isn't means-tested so your savings won't be counted.

The savings will be assessed as follows for Jobseeker's Allowance.

First 20 000 is disregarded (ignored).
The balance (5000) is assessed at 1 euro per 1000 per week - so you will be assessed as having €5 means per week.

Assuming you're single and have no other income, your entitlement would be 204.30 (full rate Jobseeker's) minus €5 means.